Closing the Loans and Starting Construction

The financing for the Green House Residences has been finalized! We have signed all of the paperwork and the loans with Susquehanna Bank and NCB Capital Impact have been recorded. We received the inital draw from the Susquehanna Bank bridge loan yesterday.

Plano-Coudon has received the building permit and surveyed the site with the fencing supplier.

We're Growing a Home, Loan Commitments Signed

THE GREEN HOUSE(R) Residences at Stadium Place are coming to Baltimore. We are planning to start construction in December. It's been a long year, with many moving parts. We have completed construction planning, negotiated a lease with an operating partner, and finally put into place a financing package. We tried New Markets Tax Credits, but that didn't work out. NCB Capital Impact has come to our rescue with a long term loan, as well as bridge financing. The Loan Commitment Letters were signed yesterday! After receiving 5 qualified bids, a construction contract has been signed with Plano-Coudon, LLC. And our operating partner will be Associated Catholic Charities, which is already providing enhanced living, dignity and person-centered care for frail elders. Welcome home!